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20121224
20121224
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to return to work until thursday. the same goes for president obama who will spend christmas in hawaii. that leaves them five days to get a deal done to avoid steep tax hikes and big-time spending cuts. senators on both sides of the aisle say both parties need to compromise to avoid a potential economic disaster. >> my one bit of advice to speaker boehner is this. you cannot pass a bill with just republicans on a broad thing like this, you need both. >> ronald reagan model is if you get 80% of what you want that's a good day. we have the same objective of lower taxes. i like simpson-bowles. put money on the debt. tax rate hikes are partisan solution driven by the president but he's going to get tax rate hikes. >> lawmakers say they are preparing to spend new year's eve on capitol hill. >> one of the survivors in the oregon mall shooting is speaking out for the first time. the 15 year old was shot december 11th. she was walking through the mall and says the gunman walked right past her carrying what she thought was a paintball gun. seconds later bullets started flying and she was hit mu
cliff. president obama and congress are on christmas vacation. it will be thursday before talks resume to try and prevent automatic tax hikes and spending cuts from taking effect january first. andrew spencer has the latest. analysts say many shoppers haven't been in the holiday spirit when it comes to spending money. the four-day black friday weekend that started on thanksgiving was strong. sales rose 2-point-7 percent. but analysts says sales fell 4-point-3 percent for the week ending december 15th. and last week they forecasted holiday spending to decrease another 2-point- 5 percent. previous expectations were for a 3-point-3 percent increase in spending. the saint anthony foundation needs help to reach its goal of collecting 5-hundred hams during the 25th annual curbside donation drive. according to the foundation, they collected a hundred hams. that's just 20-percent of their goal. the foundation hoped to get another 400 hams sunday and today. if you would like to donate a ham you can do so at the drive. located in front of saint anthony's in san francisco's tenderloin area. from
. president obama and congress are on christmas vacation. it will be thursday before talks will resume to try to prevent automatic tax hikes and spending cuts from taking effect january 1st. andrew spencer has the latest. >> this is the first time that i feel that it is more likely that will go over the cliff that not. if we allow this to happen it will be the most colossal consequence so act congressionally. this will be very irresponsible. >> president obama stated that he will cut his vacation short to try to handle this. the deadline is just a week away. >> a programming reminder to catch dr. phil right after the kron4 morning news at 10:00 a.m.. we will be right back. oh, you have a keurig vue brewer? oh, it's great! now i can brew my coffee just the way i love it. how do you do that? well, inside the brewer, there's this train that's powerful enough to carry more coffee and fresh water to make coffee that's stronger and bigger... and even hotter! actually, i just press this button. brew the coffee you love -- stronger, bigger, or hotter -- with the keurig vue. >> the mega yacht that ste
not support any tax increase, not a million, not over a million and we don't have enough spending cuts. >> why did he pull out? what was the most mortem on pulling out? >> i think he thought obama wasn't close enough. it's a couple hundred billion in revenues -- i mean in spending cuts that the president wanted and boehner said i can't believe that. neighbor he couldn't have pulled out because of the same guys that killed plan "b." >> shorter-term it looks like the republicans would feel that brunt politically of us going over the cliff. longer-term if you get into next year and you still have troubles and the economy is still weak, isn't the president taking a big chance here? i mean, do you get any sense that they're overplaying their hand because they won re-election? >> i agree with that. i think they are overplaying their hand a little bit. i think that the president doesn't want to have a second term overshadowed by a recession. which is actually an opportunity to get a few things done, completely over taken by this cliff. he does actually want a deal. i'm not sure he wants to go -- >> i
from the fiscal cliff. talks to try to prevent automatic tax hikes and spending cuts won't resume until thursday. andrew spencer has the very latest. >> reporter: some republican lawmakers says president obama wants the country to fall off the fiscal cliff. >> we were gonna go over the cliff before. we are gonna now because that's what the president wants. >> reporter: house speaker john boehner failed to get enough vote for his plan b on thursday. that would have raised taxes on people making more than a million dollars a year. on friday, they left town with no deal. >> i've asked leaders of congress to work toward a package that prevent as tax hike on middle-class americans, protects unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. >> raising taxes could still be red ink as far as i can see and it would hurt jobs. >> reporter: some long-time lawmakers are dismayed by the perpetual gridlock. >> i feel it's more likely we'll go over the cliff than not and if we allow that to happen, it will be the most colossal
president obama's offer to increase taxes on top 2%, whether 400,000 or 500,000 and of some small spending changes. that seems to be all anybody is talking about right now. that may be all that we can get through. plan c seems to be the original plan a at this point. >> we are making our way through the alpha bet. thank you, guys. merry christmas, all. >> merry christmas. >> see you later. >> let's get to the nasdaq marketsite. seema mody. >> weighing here on the nasdaq on large cap tech shares, take a look at dell shares moving lower. research in motion continuing its plunge after losing roughly 20% on friday with concerns aroundity revenue service model being the key issue there. aside from that, a biotech stock on the move, a small cap but as you see a commendable run over the past six months, gaining 70%. investors piling in, in anticipation of approval. today they got that approval. however the cholesterol lowering drug will contain a boxed warning citing risk of liver toxicity. perhaps that's a reason we are 150eing that stock move lower. on to bright spots, if you can believe it, fa
. >> why have you been so consistent in your support of obama? is >> i can't even imagine thinking about what would happen to the supreme court if a republican were the president. i mean, citizens united is a horrible thing that people can spend and waste this amount of money on elections. think of all the people that could be benefit -- could benefit from that money. >> there have been two elections since i've been in america. there have been two elections where one party has had far more financial power than the other. one was here in california with meg whitman, and one was nationally. romney clearly had more money than obama for most of that campaign, and in both cases, the one with the most money lost. >> isn't that great? >> what does that tell you about the american people? >> the people are getting smarter. they're going, i don't like all this amount of money spent on this election. campaign finance reform is very important, and i hope somebody does something about it. you should have a given amount, equal amount, equal air time, and that's it. that idea of corporations being peo
in debt, and basically wants to save a trillion dollars over ten years when he's spending a trillion dollars of money we don't have a year. gregg: you know what, dick? president obama campaigned on the idea of 800 billion in new revenue, and when he won re-election, he suddenly said i'm going to double it. i'm demanding now $1.6 trillion in new revenue. i mean, how do you negotiate with a guy who keeps changing his proposal? >> well, what's interesting is that speaker boehner would have, his proposal would have generated $800 billion in new revenue, and he couldn't get republicans of his own party to go along with it. you've got to pass something to begin a process of the give and take. and -- gregg: dick, you're dodging my question. >> that's democrats' problem, they've got to pass a bill. gregg: he said i want 800 billion in new revenue, and the immediately after the election boehner goes to him and says here it is, and he said, no, no, no, now i want 1.6 trillion. come on, dick. >> well, i mean, i think it's important to understand that this president won a huge victory based on r
looks like. the one on the table is still the old plan a. president obama's offer to raise taxes on the top 2%, restore the bush era tax cuts for the rest of us. yes there is talk about putting in spending cuts, raising medicare eligibility and changing the inflation measure for social security but that is still the one on the table. then there is the alternatives. the house passing that existing senate bill that's out there that would raise taxes on the top 2%. that doesn't include sequestration though. sequestration could happen so they have to either let it happen or insert some kind of stop-gap in there. the other one of course is just literally to extend everything for another month. extend all the cuts to the end of january and simply delay sequestration and of course that is the least desirable but that may be in fact the one that happens right now. let's move on and show you the market is still not very worried about it. the five-month high on an intraday basis on friday but still staying within that trading range that has been in for a while now. not really busting out a
Search Results 0 to 8 of about 9

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